Feb 01, 2023
ASM 265 - Pract III: Finance Credits: 1
Lecture Hours: 0
Lab Hours: 0
Practicum Hours: 0
Work Experience: 4
Course Type: Open
During this practical experience, the student will analyze and interpret budgets and financial statements. Special emphasis will be placed on the role and responsibilities of the administrator in identifying trends in the financial performance of the facility.
- Review the operating and captial budget.
- Assess the fiscal resource allocations.
- Describe the essential elements of fiscal leadership of the organization.
- Assess the impact of Medicaid and Medicare.
- Describe the review collection system.
- Define audit and reporting systems.
- Interpret the contractual agreements.
- Review policies with organized labor if applicable.
- Describe agreements with vendors and consult services.
- Describe insurance coverage and risk management policies.
- Review the budget for each department.
- Relate how each department receives and spends money.
- Identify who is responsible for the budget and the training those individuals were appropriate.
- Define the administrator’s relationship and responsibilities to effectively control money, operations, and information.
- Describe essential elements of fiscal leadership of the organization.
- Review financial worksheets.
- Assess budgets and monetary controls.
- Define financial practices to comply with state and federal regulations.
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